Moody’s on Friday placed Yes Bank’s long-term foreign currency issuer rating of B2 under review, with the direction uncertain. The rating agency has downgraded Yes Bank’s Baseline Credit Assessment (BCA) and adjusted BCA to caa2 from b3.
“The placing of Yes Bank’s deposit rating of B2 under review reflects Moody’s expectation that the bank’s standalone viability is getting increasingly challenged by its slowness in raising new capital.”“Because the viability of the bank absent a large capital injection is in question, Moody’s has downgraded the bank’s standalone credit profile or its BCA to caa2 from b3,” it said.
